問題一覧
1
It separately report contributed capital and accumulated profits in accordance with some legal provisions.
corporations
2
The owner's equity section of a corporation's STATEMENT OF FINANCIAL POSITION is called _____
shareholders equity
3
_____ has two major components—SHARE CAPITAL (contributed or paid-in capital) and RETAINED EARNINGS.
SHAREHOLDERS' EQUITY
4
SHAREHOLDERS' EQUITY has two major components—_______ (contributed or paid-in capital) and ______.
SHARE CAPITAL RETAINED EARNINGS
5
SHAREHOLDERS' EQUITY has two major components—SHARE CAPITAL (________) and RETAINED EARNINGS.
contributed or paid-in capital
6
Reflects the amount of resources received by a corporation as a result of investment by shareholders, donations or other share capital transactions.
share capital
7
_______ (or accumulated profits or losses) is the amount of capital accumulated and retained through the profitable operations of the business.
RETAINED EARNINGS
8
RETAINED EARNINGS (or ______) is the amount of capital accumulated and retained through the profitable operations of the business.
accumulated profits or losses
9
It is the shares to be subscribe and paid in or secured to be paid in by the shareholders, either in money, property or services, at the time of organization of the corporation or afterwards, and upon which it is to conduct its operations.
share capital
10
The SHARE CAPITAL, contributed or paid-in capital is further divided into the following:
legal capital share premium
11
Capital contributed by shareholders comes from the sale of _____.
shares of stock
12
The SHARES OF STOCK ISSUED are generally referred to as ______
share capital
13
Is that portion of the contributed capital or the minimum amount of paid-in capital, which must remain in the corporation for the protection of corporate creditors.
legal capital
14
In case of ______ shares, LEGAL CAPITAL is the aggregate par value of ALL ISSUED AND SUBSCRIBED SHARES.
PAR VALUE
15
In case of PAR VALUE shares, ______ is the aggregate par value of ALL ISSUED AND SUBSCRIBED SHARES.
LEGAL CAPITAL
16
In case of PAR VALUE shares, LEGAL CAPITAL is the aggregate par value of ______.
ALL ISSUED AND SUBSCRIBED SHARES
17
In case of _____, LEGAL CAPITAL is the TOTAL CONSIDERATION received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
NO PAR SHARES
18
In case of NO PAR SHARES, _______ is the TOTAL CONSIDERATION received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
LEGAL CAPITAL
19
In case of NO PAR SHARES, LEGAL CAPITAL is the ______ received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
20
It is the portion of the paid-in capital representing amounts paid by the shareholders in EXCESS OF PAR.
share premium or additional paid-in capital
21
It may also result from transactions involving treasury stocks, retirement of shares, donated capital, shared dividends and other "gain" on the corporations own stock transactions.
share premium
22
What are the two basic types of shares?
ordinary share and preference share
23
______ is divided into transferable SHARES OF STOCKS.
SHARE CAPITAL
24
SHARE CAPITAL is divided into transferable _______.
SHARES OF STOCKS
25
A ______ represents the interest or right of a shareholder in a corporation and this evidenced by a CERTIFICATE OF STOCK.
SHARE OF STOCK
26
A SHARE OF STOCK represents the interest or right of a shareholder in a corporation and this evidenced by a _______.
CERTIFICATE OF STOCK
27
______ includes all types of ownership shares in a corporation.
Share capital
28
This share represents the basic ownership class of the corporation.
ordinary share
29
When only one class of share is issued, it must be _______.
ordinary share
30
_____ are the entity's residual equity.
ordinary share
31
This share gives its owner a certain advantages over ordinary shareholders.
preference share
32
These special benefits relate either to the receipt of dividends when declared before the ordinary shareholders (PREFERRED AS TO DIVIDENDS) or to priority claims on assets in the event of corporate liquidation (PREFERRED AS TO ASSETS)
preference share
33
Preference Share's special benefits relate either to the RECEIPT OF DIVIDENDS when declared before the ordinary shareholders (_______) or to PRIORITY CLAIMS ON ASSETS in the event of corporate liquidation (______)
preferred as to dividends preferred as to assets
34
The number of _______ indicates the MAXIMUM number of shares the corporation can issue a specified in the article of incorporation.
authorized share
35
The maximum number of shares when multiplied by the par value of the share will yield the _______.
authorized share capital
36
Note that any increase or decrease in the ____ requires prior approval of the SEC and formal amendment to the articles of incorporation.
authorized share capital
37
These are shares which have been sold and paid for in full.
issued share capital
38
_____ may include TREASURY SHARES.
ISSUED SHARES
39
ISSUED SHARES may include _____.
TREASURY SHARES
40
______, either ORDINARY SHARES account or PREFERENCE SHARES account, is credited for the total par value of the fully collected subscriptions.
Share Capital
41
Share Capital, either ______ account or ______ account, is credited for the total par value of the fully collected subscriptions.
ORDINARY SHARES PREFERENCE SHARES
42
Share Capital, either ORDINARY SHARES account or PREFERENCE SHARES account, is _____ for the total par value of the fully collected subscriptions.
credited
43
______, either ORDINARY SHARES account or PREFERENCE SHARES account, is CREDITED in the case of no-par value shares, for the total consideration received in relation to the issue.
Share Capital
44
_____ is DEBITED only when the issued shares are retired, redeemed or cancelled by the corporation.
SHARE CAPITAL
45
SHARE CAPITAL is ____ only when the issued shares are retired, redeemed or cancelled by the corporation.
DEBITED
46
It is the portion of the authorized share capital that has been subscribed but not yet fully paid.
subscribe share capital
47
This shareholders' equity account is CREDITED for the total par value of the shares SUBSCRIBED and DEBITED for the total par value of the fully COLLECTED subscriptions.
subscribed share capital
48
SUBSCRIBED SHARE CAPITAL
The shareholders' equity account is ______ for the total par value of the shares SUBSCRIBED and _____ for the total par value of the fully COLLECTED subscriptions.
CREDITED DEBITED
49
SUBSCRIBED SHARE CAPITAL
The shareholders' equity account is CREDITED for the total par value of the shares _____ and DEBITED for the total par value of the fully ______ subscriptions.
SUBSCRIBED COLLECTED
50
These are issued shares, which are in the hands of the shareholders.
outstanding share capital
51
The number of ______ will equal the difference between the ISSUED SHARES and the TREASURY SHARES.
outstanding shares
52
These are issued shares acquired by the corporation but not retired and are therefore, awaiting to be reissued at a later date.
treasury stock
53
When shares with _______ are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
WITH PAR VALUE
54
When shares WITH PAR VALUE are sold, the proceeds should be _____ to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
CREDITED
55
When shares WITH PAR VALUE are sold, the proceeds should be CREDITED to the ______ to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
SHARE CAPITAL ACCOUNT
56
When shares WITH PAR VALUE are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as ______.
SHARE PREMIUM
57
When shares _______ are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT. If the _____ has a stated value, the excess proceeds over stated value may alternatively be credited to SHARE PREMIUM.
WITHOUT PAR VALUE NO-PAR STOCK
58
When shares WITHOUT PAR VALUE are sold, the proceeds should be CREDITED to the ______. If the NO-PAR STOCK has a stated value, the excess proceeds over stated value may alternatively be credited to SHARE PREMIUM.
SHARE CAPITAL ACCOUNT
59
When shares WITHOUT PAR VALUE are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT. If the NO-PAR STOCK has a stated value, the excess proceeds over stated value may alternatively be credited to ______.
SHARE PREMIUM
60
______ prohibits the ORIGINAL ISSUE of SHARE CAPITAL (or capital stock) for a consideration less than the par or stated value (i.e. issued at a discount)
Section 65 of the Corporation Code
61
Section 65 of the Corporation Code prohibits the ______ of SHARE CAPITAL (or capital stock) for a consideration less than the par or stated value (i.e. issued at a discount)
ORIGINAL ISSUE
62
Section 65 of the Corporation Code prohibits the ORIGINAL ISSUE of _____ (____) for a consideration less than the par or stated value (i.e. issued at a discount)
SHARE CAPITAL (or capital stock)
63
Share capital may be issued in exchange for any of the following considerations:
actual cash paid tangible or intangible properties labor already performed or services rendered incurred indebtedness by the corporation
64
In issuing its share capital, a corporation may avail of the services of an ____ who is a specialist in marketing shares to investors.
investment banker
65
The investment banker may _____ a share issue which means that the banker agrees to buy the shares of the corporation and to sell them to investors.
underwrite
66
The ______ may UNDERWRITE a share issue which means that the banker agrees to buy the shares of the corporation and to sell them to investors.
investment banker
67
The corporation considers the shares as sold because the _____ will buy the shares that he is not able to sell.
underwriter
68
An INVESTMENT BANKER who is NOT WILLING TO UNDERWRITE may handle a share issue on a _______.
best efforts basis
69
Accounting for ______ discovered in the paragraph 37 of International Accounting Standards (IAS) No. 32, Financial Instruments: Presentation:
SHARE ISSUE COSTS
70
Accounting for SHARE ISSUE COSTS discovered in the _____ of International Accounting Standards (IAS) No. 32, Financial Instruments: Presentation:
paragraph 37
71
Accounting for SHARE ISSUE COSTS discovered in the paragraph 37 of _______ No. 32, Financial Instruments: Presentation:
International Accounting Standards (IAS)
72
Accounting for SHARE ISSUE COSTS discovered in the paragraph 37 of International Accounting Standards (IAS) _______:
No. 32, Financial Instruments: Presentation
73
The transaction costs of an equity transaction are accounted for as a _______ (net of any related income tax benefit) to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided.
deduction from equity
74
For Philippine Interpretations Committee (PIC) the costs of listing shares in the stock market are not considered as costs of an "______" since no equity instrument has been issued.
equity transaction
75
The costs of listing shares in the stock market are not considered as costs of an equity transaction, but rather such costs are recognized as an ____ in profit or loss when incurred.
expense
76
Examples of these types of costs are as follows: audit another professional advice relating to prospectus, opinion of council, tax opinion, fairness opinion and valuation report, and prospectus design and printing.
joint costs
77
The amount invested in the corporation is called _____
paid in capital or contributed capital
78
The _____ prohibits the issue of NO-PAR VALUE PREFERENCE SHARES.
Section 6 Of The Corporation Code
79
The Section 6 Of The Corporation Code prohibits the issue of _______ PREFERENCE SHARES.
NO-PAR VALUE
80
The Section 6 Of The Corporation Code prohibits the issue of NO-PAR VALUE ______.
PREFERENCE SHARES
81
Is a legally binding contract which provides for the number of share subscribed, the subscription price, the terms of payment and other conditions of the transactions.
subscription contract
82
A subscriber becomes a _____ upon subscription but the stock certificates evidencing ownership over shares of stocks are not issued until the full collection of the subscription.
shareholder
83
It is presented in the statement of financial position as a DEDUCTION from the related Subscribed Ordinary Shares; however when it is collectible within 1 year, this may be shown as a Current Asset.
subscriptions receivable
84
It is DEBITED for the TOTAL PROCEEDS of the subscriptions to the ordinary shares and CREDITED for the COLLECTIONS on the subscriptions.
subscriptions receivable
85
Instances when a subscriber fails to settle the subscriptions in full on the date specified in the subscription contract or in the call made by the board of directors, in such case, the subscribe shares are declared ___
delinquent shares
86
The person who is willing to pay the "offer price" which includes the full amount of the subscription balance plus accrued interest, cost of advertisement and expenses of action sale in exchange for the smallest number of shares.
highest bidder
87
If there is no bidder, the corporation may bid for the delinquent shares in the total amount you shall be credited as paid and full in the books of the corporation. This is called ____
treasury shares or treasury stock
88
Treasury stocks are shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation either by purchase, redemption, donation or through other lawful means.
treasury stock
89
Such shares may again be disposed of for a reasonable price fixed by the board of directors.
treasury stock
90
In this section of the corporation code provides that a stock corporation has the power to purchase its own shares for a legitimate purpose provided it has unrestricted retained earnings.
section 41 of the corporation code
91
It is not an asset because the corporation may not own shares of itself.
treasury stock
92
To reiterate, it is reported as a deduction from the total shareholders' equity.
treasury stock
93
There are two methods of accounting for treasury stock transactions, namely:
par or stated value method cost method
94
In this method, the treasury stock is debited for an amount equal to the par or stated value of the stock required.
treasury stock
95
It is the preferred method of accounting for treasury stocks by the Accounting Standards Council as stated in the SFAS No. 18 par. 6.
cost method
96
Represent the component of the shareholders' equity arising from the retention of assets generated from the profit-directed activities of the corporation.
retained earnings
97
At the end of the accounting period, the _____ account of a corporation is closed to the Retained Earnings account.
Income Summary
98
At the end of the accounting period, the Income Summary account of a corporation is closed to the ______ account.
Retained Earnings
99
This account is credited with the corporation's profit or debited with the loss.
retained earnings
100
The basic source of retained earnings is ____.
profit
Business Finance
Business Finance
Sab Sescon · 46問 · 2年前Business Finance
Business Finance
46問 • 2年前21st century
21st century
Sab Sescon · 62問 · 2年前21st century
21st century
62問 • 2年前intro to philosophy of the human person
intro to philosophy of the human person
Sab Sescon · 12問 · 2年前intro to philosophy of the human person
intro to philosophy of the human person
12問 • 2年前UCSP
UCSP
Sab Sescon · 22問 · 2年前UCSP
UCSP
22問 • 2年前Business Math
Business Math
Sab Sescon · 33問 · 2年前Business Math
Business Math
33問 • 2年前Business Finance Quiz
Business Finance Quiz
Sab Sescon · 40問 · 2年前Business Finance Quiz
Business Finance Quiz
40問 • 2年前Business Finance
Business Finance
Sab Sescon · 126問 · 2年前Business Finance
Business Finance
126問 • 2年前Business Finance
Business Finance
Sab Sescon · 43問 · 2年前Business Finance
Business Finance
43問 • 2年前Business Math
Business Math
Sab Sescon · 12問 · 2年前Business Math
Business Math
12問 • 2年前business finance
business finance
Sab Sescon · 78問 · 2年前business finance
business finance
78問 • 2年前Business Finance
Business Finance
Sab Sescon · 36問 · 2年前Business Finance
Business Finance
36問 • 2年前Business Math
Business Math
Sab Sescon · 20問 · 2年前Business Math
Business Math
20問 • 2年前Applied Economics
Applied Economics
Sab Sescon · 97問 · 1年前Applied Economics
Applied Economics
97問 • 1年前Business Ethics Lesson 1
Business Ethics Lesson 1
Sab Sescon · 72問 · 1年前Business Ethics Lesson 1
Business Ethics Lesson 1
72問 • 1年前Business Ethics Lesson 2
Business Ethics Lesson 2
Sab Sescon · 30問 · 1年前Business Ethics Lesson 2
Business Ethics Lesson 2
30問 • 1年前Principles of Marketing
Principles of Marketing
Sab Sescon · 82問 · 1年前Principles of Marketing
Principles of Marketing
82問 • 1年前Approaches tp Marketing Continuation
Approaches tp Marketing Continuation
Sab Sescon · 49問 · 1年前Approaches tp Marketing Continuation
Approaches tp Marketing Continuation
49問 • 1年前investment and interest rates
investment and interest rates
Sab Sescon · 24問 · 1年前investment and interest rates
investment and interest rates
24問 • 1年前Market Structure
Market Structure
Sab Sescon · 22問 · 1年前Market Structure
Market Structure
22問 • 1年前business ethics
business ethics
Sab Sescon · 52問 · 1年前business ethics
business ethics
52問 • 1年前問題一覧
1
It separately report contributed capital and accumulated profits in accordance with some legal provisions.
corporations
2
The owner's equity section of a corporation's STATEMENT OF FINANCIAL POSITION is called _____
shareholders equity
3
_____ has two major components—SHARE CAPITAL (contributed or paid-in capital) and RETAINED EARNINGS.
SHAREHOLDERS' EQUITY
4
SHAREHOLDERS' EQUITY has two major components—_______ (contributed or paid-in capital) and ______.
SHARE CAPITAL RETAINED EARNINGS
5
SHAREHOLDERS' EQUITY has two major components—SHARE CAPITAL (________) and RETAINED EARNINGS.
contributed or paid-in capital
6
Reflects the amount of resources received by a corporation as a result of investment by shareholders, donations or other share capital transactions.
share capital
7
_______ (or accumulated profits or losses) is the amount of capital accumulated and retained through the profitable operations of the business.
RETAINED EARNINGS
8
RETAINED EARNINGS (or ______) is the amount of capital accumulated and retained through the profitable operations of the business.
accumulated profits or losses
9
It is the shares to be subscribe and paid in or secured to be paid in by the shareholders, either in money, property or services, at the time of organization of the corporation or afterwards, and upon which it is to conduct its operations.
share capital
10
The SHARE CAPITAL, contributed or paid-in capital is further divided into the following:
legal capital share premium
11
Capital contributed by shareholders comes from the sale of _____.
shares of stock
12
The SHARES OF STOCK ISSUED are generally referred to as ______
share capital
13
Is that portion of the contributed capital or the minimum amount of paid-in capital, which must remain in the corporation for the protection of corporate creditors.
legal capital
14
In case of ______ shares, LEGAL CAPITAL is the aggregate par value of ALL ISSUED AND SUBSCRIBED SHARES.
PAR VALUE
15
In case of PAR VALUE shares, ______ is the aggregate par value of ALL ISSUED AND SUBSCRIBED SHARES.
LEGAL CAPITAL
16
In case of PAR VALUE shares, LEGAL CAPITAL is the aggregate par value of ______.
ALL ISSUED AND SUBSCRIBED SHARES
17
In case of _____, LEGAL CAPITAL is the TOTAL CONSIDERATION received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
NO PAR SHARES
18
In case of NO PAR SHARES, _______ is the TOTAL CONSIDERATION received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
LEGAL CAPITAL
19
In case of NO PAR SHARES, LEGAL CAPITAL is the ______ received by the corporation for the issuance of its shares to the shareholders including the excess of issue price over the stated value.
20
It is the portion of the paid-in capital representing amounts paid by the shareholders in EXCESS OF PAR.
share premium or additional paid-in capital
21
It may also result from transactions involving treasury stocks, retirement of shares, donated capital, shared dividends and other "gain" on the corporations own stock transactions.
share premium
22
What are the two basic types of shares?
ordinary share and preference share
23
______ is divided into transferable SHARES OF STOCKS.
SHARE CAPITAL
24
SHARE CAPITAL is divided into transferable _______.
SHARES OF STOCKS
25
A ______ represents the interest or right of a shareholder in a corporation and this evidenced by a CERTIFICATE OF STOCK.
SHARE OF STOCK
26
A SHARE OF STOCK represents the interest or right of a shareholder in a corporation and this evidenced by a _______.
CERTIFICATE OF STOCK
27
______ includes all types of ownership shares in a corporation.
Share capital
28
This share represents the basic ownership class of the corporation.
ordinary share
29
When only one class of share is issued, it must be _______.
ordinary share
30
_____ are the entity's residual equity.
ordinary share
31
This share gives its owner a certain advantages over ordinary shareholders.
preference share
32
These special benefits relate either to the receipt of dividends when declared before the ordinary shareholders (PREFERRED AS TO DIVIDENDS) or to priority claims on assets in the event of corporate liquidation (PREFERRED AS TO ASSETS)
preference share
33
Preference Share's special benefits relate either to the RECEIPT OF DIVIDENDS when declared before the ordinary shareholders (_______) or to PRIORITY CLAIMS ON ASSETS in the event of corporate liquidation (______)
preferred as to dividends preferred as to assets
34
The number of _______ indicates the MAXIMUM number of shares the corporation can issue a specified in the article of incorporation.
authorized share
35
The maximum number of shares when multiplied by the par value of the share will yield the _______.
authorized share capital
36
Note that any increase or decrease in the ____ requires prior approval of the SEC and formal amendment to the articles of incorporation.
authorized share capital
37
These are shares which have been sold and paid for in full.
issued share capital
38
_____ may include TREASURY SHARES.
ISSUED SHARES
39
ISSUED SHARES may include _____.
TREASURY SHARES
40
______, either ORDINARY SHARES account or PREFERENCE SHARES account, is credited for the total par value of the fully collected subscriptions.
Share Capital
41
Share Capital, either ______ account or ______ account, is credited for the total par value of the fully collected subscriptions.
ORDINARY SHARES PREFERENCE SHARES
42
Share Capital, either ORDINARY SHARES account or PREFERENCE SHARES account, is _____ for the total par value of the fully collected subscriptions.
credited
43
______, either ORDINARY SHARES account or PREFERENCE SHARES account, is CREDITED in the case of no-par value shares, for the total consideration received in relation to the issue.
Share Capital
44
_____ is DEBITED only when the issued shares are retired, redeemed or cancelled by the corporation.
SHARE CAPITAL
45
SHARE CAPITAL is ____ only when the issued shares are retired, redeemed or cancelled by the corporation.
DEBITED
46
It is the portion of the authorized share capital that has been subscribed but not yet fully paid.
subscribe share capital
47
This shareholders' equity account is CREDITED for the total par value of the shares SUBSCRIBED and DEBITED for the total par value of the fully COLLECTED subscriptions.
subscribed share capital
48
SUBSCRIBED SHARE CAPITAL
The shareholders' equity account is ______ for the total par value of the shares SUBSCRIBED and _____ for the total par value of the fully COLLECTED subscriptions.
CREDITED DEBITED
49
SUBSCRIBED SHARE CAPITAL
The shareholders' equity account is CREDITED for the total par value of the shares _____ and DEBITED for the total par value of the fully ______ subscriptions.
SUBSCRIBED COLLECTED
50
These are issued shares, which are in the hands of the shareholders.
outstanding share capital
51
The number of ______ will equal the difference between the ISSUED SHARES and the TREASURY SHARES.
outstanding shares
52
These are issued shares acquired by the corporation but not retired and are therefore, awaiting to be reissued at a later date.
treasury stock
53
When shares with _______ are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
WITH PAR VALUE
54
When shares WITH PAR VALUE are sold, the proceeds should be _____ to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
CREDITED
55
When shares WITH PAR VALUE are sold, the proceeds should be CREDITED to the ______ to the extent of the par value of the shares, with any excess being reflected as SHARE PREMIUM.
SHARE CAPITAL ACCOUNT
56
When shares WITH PAR VALUE are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT to the extent of the par value of the shares, with any excess being reflected as ______.
SHARE PREMIUM
57
When shares _______ are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT. If the _____ has a stated value, the excess proceeds over stated value may alternatively be credited to SHARE PREMIUM.
WITHOUT PAR VALUE NO-PAR STOCK
58
When shares WITHOUT PAR VALUE are sold, the proceeds should be CREDITED to the ______. If the NO-PAR STOCK has a stated value, the excess proceeds over stated value may alternatively be credited to SHARE PREMIUM.
SHARE CAPITAL ACCOUNT
59
When shares WITHOUT PAR VALUE are sold, the proceeds should be CREDITED to the SHARE CAPITAL ACCOUNT. If the NO-PAR STOCK has a stated value, the excess proceeds over stated value may alternatively be credited to ______.
SHARE PREMIUM
60
______ prohibits the ORIGINAL ISSUE of SHARE CAPITAL (or capital stock) for a consideration less than the par or stated value (i.e. issued at a discount)
Section 65 of the Corporation Code
61
Section 65 of the Corporation Code prohibits the ______ of SHARE CAPITAL (or capital stock) for a consideration less than the par or stated value (i.e. issued at a discount)
ORIGINAL ISSUE
62
Section 65 of the Corporation Code prohibits the ORIGINAL ISSUE of _____ (____) for a consideration less than the par or stated value (i.e. issued at a discount)
SHARE CAPITAL (or capital stock)
63
Share capital may be issued in exchange for any of the following considerations:
actual cash paid tangible or intangible properties labor already performed or services rendered incurred indebtedness by the corporation
64
In issuing its share capital, a corporation may avail of the services of an ____ who is a specialist in marketing shares to investors.
investment banker
65
The investment banker may _____ a share issue which means that the banker agrees to buy the shares of the corporation and to sell them to investors.
underwrite
66
The ______ may UNDERWRITE a share issue which means that the banker agrees to buy the shares of the corporation and to sell them to investors.
investment banker
67
The corporation considers the shares as sold because the _____ will buy the shares that he is not able to sell.
underwriter
68
An INVESTMENT BANKER who is NOT WILLING TO UNDERWRITE may handle a share issue on a _______.
best efforts basis
69
Accounting for ______ discovered in the paragraph 37 of International Accounting Standards (IAS) No. 32, Financial Instruments: Presentation:
SHARE ISSUE COSTS
70
Accounting for SHARE ISSUE COSTS discovered in the _____ of International Accounting Standards (IAS) No. 32, Financial Instruments: Presentation:
paragraph 37
71
Accounting for SHARE ISSUE COSTS discovered in the paragraph 37 of _______ No. 32, Financial Instruments: Presentation:
International Accounting Standards (IAS)
72
Accounting for SHARE ISSUE COSTS discovered in the paragraph 37 of International Accounting Standards (IAS) _______:
No. 32, Financial Instruments: Presentation
73
The transaction costs of an equity transaction are accounted for as a _______ (net of any related income tax benefit) to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided.
deduction from equity
74
For Philippine Interpretations Committee (PIC) the costs of listing shares in the stock market are not considered as costs of an "______" since no equity instrument has been issued.
equity transaction
75
The costs of listing shares in the stock market are not considered as costs of an equity transaction, but rather such costs are recognized as an ____ in profit or loss when incurred.
expense
76
Examples of these types of costs are as follows: audit another professional advice relating to prospectus, opinion of council, tax opinion, fairness opinion and valuation report, and prospectus design and printing.
joint costs
77
The amount invested in the corporation is called _____
paid in capital or contributed capital
78
The _____ prohibits the issue of NO-PAR VALUE PREFERENCE SHARES.
Section 6 Of The Corporation Code
79
The Section 6 Of The Corporation Code prohibits the issue of _______ PREFERENCE SHARES.
NO-PAR VALUE
80
The Section 6 Of The Corporation Code prohibits the issue of NO-PAR VALUE ______.
PREFERENCE SHARES
81
Is a legally binding contract which provides for the number of share subscribed, the subscription price, the terms of payment and other conditions of the transactions.
subscription contract
82
A subscriber becomes a _____ upon subscription but the stock certificates evidencing ownership over shares of stocks are not issued until the full collection of the subscription.
shareholder
83
It is presented in the statement of financial position as a DEDUCTION from the related Subscribed Ordinary Shares; however when it is collectible within 1 year, this may be shown as a Current Asset.
subscriptions receivable
84
It is DEBITED for the TOTAL PROCEEDS of the subscriptions to the ordinary shares and CREDITED for the COLLECTIONS on the subscriptions.
subscriptions receivable
85
Instances when a subscriber fails to settle the subscriptions in full on the date specified in the subscription contract or in the call made by the board of directors, in such case, the subscribe shares are declared ___
delinquent shares
86
The person who is willing to pay the "offer price" which includes the full amount of the subscription balance plus accrued interest, cost of advertisement and expenses of action sale in exchange for the smallest number of shares.
highest bidder
87
If there is no bidder, the corporation may bid for the delinquent shares in the total amount you shall be credited as paid and full in the books of the corporation. This is called ____
treasury shares or treasury stock
88
Treasury stocks are shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation either by purchase, redemption, donation or through other lawful means.
treasury stock
89
Such shares may again be disposed of for a reasonable price fixed by the board of directors.
treasury stock
90
In this section of the corporation code provides that a stock corporation has the power to purchase its own shares for a legitimate purpose provided it has unrestricted retained earnings.
section 41 of the corporation code
91
It is not an asset because the corporation may not own shares of itself.
treasury stock
92
To reiterate, it is reported as a deduction from the total shareholders' equity.
treasury stock
93
There are two methods of accounting for treasury stock transactions, namely:
par or stated value method cost method
94
In this method, the treasury stock is debited for an amount equal to the par or stated value of the stock required.
treasury stock
95
It is the preferred method of accounting for treasury stocks by the Accounting Standards Council as stated in the SFAS No. 18 par. 6.
cost method
96
Represent the component of the shareholders' equity arising from the retention of assets generated from the profit-directed activities of the corporation.
retained earnings
97
At the end of the accounting period, the _____ account of a corporation is closed to the Retained Earnings account.
Income Summary
98
At the end of the accounting period, the Income Summary account of a corporation is closed to the ______ account.
Retained Earnings
99
This account is credited with the corporation's profit or debited with the loss.
retained earnings
100
The basic source of retained earnings is ____.
profit